sterling bloc

Also called sterling area.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for sterling area

sterling area

noun
  1. a group of countries that use sterling as a medium of international payments and sometimes informally as a currency against which to peg their own currencies. For these purposes they deposit sterling balances and hold gold and dollar reserves in the Bank of EnglandAlso called: sterling bloc, scheduled territories
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